Gold Jewellery Sales : Jewellery sales during Dussehra remained almost unchanged compared with the previous year as record-high gold prices made customers more cautious about spending. The festive season failed to deliver the expected boost to demand, leaving jewellers hopeful that sales will improve during Dhanteras, an auspicious occasion for buying gold in India. Industry executives said gold sales had also declined by around 15% year-on-year during Ganesh Chaturthi. With prices continuing to rise, customers are not abandoning gold purchases altogether but are increasingly choosing lightweight jewellery and designs that fit their budgets.

Demand for Lightweight Jewellery Rises
According to Colin Shah, managing director of Mumbai-based Kama Jewellery, customers are continuing the tradition of buying gold on auspicious occasions while looking for better value for their money. This has increased demand for lightweight jewellery and 9-carat gold ornaments. Younger buyers and first-time gold purchasers, in particular, are showing interest in relatively affordable options. There is also growing interest in jewellery featuring natural and lab-grown diamonds in the price range of Rs 1.5 lakh to Rs 3 lakh. These changing preferences are encouraging jewellers to rethink their designs and product offerings.

Gold Prices Change Consumer Preferences
Gold prices during Dussehra were approximately 35% higher than a year earlier, reaching around Rs 1.48 lakh per 10 grams, compared with nearly Rs 1.10 lakh per 10 grams during the same festival last year. This substantial increase has put additional pressure on household budgets. According to Neil Sonawala, managing director of Zen Diamond India, customers are increasingly choosing jewellery that can be worn both on a daily basis and during festivals. Many buyers are avoiding expensive, heavy ornaments that are typically reserved for special occasions.

Diamond-Studded Designs Gain Popularity
Jewellery made from 9-carat and 14-carat gold is also attracting customers looking for more affordable purchases. According to Zen Diamond India, lightweight and diamond-studded jewellery accounts for approximately 65% to 70% of its catalogue. The company says these designs have played an important role in supporting sales during the festive season. Jewellery featuring both natural and lab-grown diamonds is attracting interest, reflecting a broader shift towards modern, budget-friendly designs alongside traditional heavy gold ornaments.

Jewellers Hope Dhanteras Will Boost Sales
Financing options and gold-exchange schemes are also helping encourage purchases during the festive season. Financing allows customers to spread payments into instalments, while gold-exchange programmes enable them to trade old jewellery for new designs. This trend is not limited to younger buyers. Customers aged over 55 are also exchanging older ornaments for more contemporary styles. Jewellers are now hoping that the tradition of purchasing gold on Dhanteras will help revive demand. However, the extent of any sales recovery will depend on gold prices and consumers' spending capacity.